Costing

✅ The correct answer is D.
Most appropriate basis for the apportionment of power is horse power of machines.

✅ The correct answer is D.
Actual loss is less than the predetermined normal loss, it is abnormal gain. If the actual loss is more than normal loss, then it is abnormal loss.

✅ The correct answer is B.
Observed cost value = Residual error + Predicted cost value
= 51 + 37 = 88

✅ The correct answer is A.
Blanket overhead rate is one single overhead absorption rate for the whole factory. It is a common absorption rate used throughout a factory and for all jobs and units of output irrespective of the departments in which they were produced or processed. It is a one single overhead absorption rate for the whole of the factory.

✅ The correct answer is C.

✅ The correct answer is D.
Responsibility Centre can be categorised into Cost Centres, Profit Centres and Investment Centres. Responsibility centers are often categorized by the degree of authority and responsibility given to the manager.

✅ The correct answer is B.
Cost which is changed in proportion to level total volume is variable cost. Variable costs are costs that change as the quantity of the good or service that a business produces changes.

✅ The correct answer is C.
Overhead can be classified according to function-wise as manufacturing o/h, administration o/h and selling & distribution o/h.

✅ The correct answer is B.
When two products are simultaneously produced in a process and one of them has comparatively high value and other is of low value , the low value product is called by products.

✅ The correct answer is A.
An assumption of specification analysis states: any observation does not belong to any other observation’s residual value, is classified as independence of residuals. These residual plots can be used to assess the quality of the regression.